Manufacturing Income Statement, Statement of Cost of Goods Manufactured Several items are omitted from the income statement and cost of goods manufactured statement data for two different companies for the month of December: On off Company Company Materials inventory, December 1 $90,770 $114,370 Materials inventory, December 31 (a) 129,240 Materials purchased 230,560 (a) Cost of direct materials used in production 243,260 (6) Direct labor 342,200 257,330 Factory overhead 106,200 128,090 Total manufacturing costs incurred in December (b) 739,970 Total manufacturing costs 865,940 865,940 Work in process inventory, December 1 174,280 275,630 Work in process inventory, December 31 147,050 (c) Cost of goods manufactured (c) 733,110 Finished goods inventory, December 1 153,400 128,090 Finished goods inventory, December 31 160,660 (d) Sales 1,337,950 1,143,700 Cost of goods sold (d) 739,970 Gross profit (e) Operating expenses 174,280 (f) Net income 253,900 Required: 1. Determine the amounts of the missing items, identifying them by letter. Enter all amounts as positive numbers. Letter On Company Off Company a. b. C. $ $ $ d. $ e. f. 2. Prepare On Company's statement of cost of goods manufactured for December. On Company Statement of Cost of Goods Manufactured For the Month Ended December 31 Work in process inventory, December 1 Direct materials: Materials inventory, December 1 Purchases Cost of materials available for use Materials inventory, December 31 Cost of direct materials used in production Direct labor Factory overhead Total manufacturing costs incurred during December Total manufacturing costs Work in process inventory, December 31 Cost of goods manufactured 3. Prepare On Company's income statement for December. On Company Income Statement For the Month Ended December 31 Sales Cost of goods sold: Finished goods inventory, December 1 Cost of goods manufactured Cost of finished goods available for sale Finished goods inventory, December 31 Cost of goods sold Gross profit Operating expenses Net income